Bitcoin dropped another 2 per cent in the last 24 hours as the largest crypto token was trading below the $28,000 mark, while Ethereum dropped more than a per cent but remained about $1,800.
The global cryptocurrency market cap was trading quite lower, falling near the $1.16 trillion mark as it jumped almost 2 per cent in the last 24 hours.
Bitcoin and top crypto tokens were trading lower during the early trading hours in Asia. The digital asset market extended its cuts after the weekend selling pressure amid the thin trading volumes. Investors across the globe are awaiting the US Fed's monetary policy outcome later this week. Chiliz(CHZ) is the leading digital currency for sports and entertainment by a Malta-based FinTech provider. Their platform, Socios, operates on blockchain technology and allows users to engage in the management of their preferred sports brands.
Socios.com features various fan tokens that serve as an instance of this service. By using fan tokens, sports clubs and associations can connect with their fans and access novel revenue streams.
On the weekly time frame, CHZ can be seen traversing within a triangle pattern, trading close to the support levels. However, we could expect a bounce back from the lower trendline in the coming days. The next resistance is expected at $0.15 and immediate support is expected at the $0.10 level.